penalty

Generally, you'll have to pay an underpayment penalty if you owe more than $1,000 in taxes (after taking withholding into account) and:

 * Your taxes withheld don't cover at least 90% of your 2021 tax liability, or

 * Your taxes withheld aren't at least 100% of your 2020 tax liability

To review your underpayment, please follow the instructions below:

1. Open your return.
2. Search for underpayment penalty with the magnifying glass tool at the top of the page.
3. Select the Jump to link at the top of the search results.
4. Review your underpayment.

In addition, there will be an entry in Line 38 of your 1040 if you allow TurboTax to calculate the estimated penalty, rather than electing the option to have the IRS figure out the penalty. You can elect to have the IRS calculate your penalty while completing the underpayment penalty screens.